New Econet Home Wallet gives diasporans control of their remittances to Zimbabwe

UK diaspora customers will now have access to the Ecocash wallet as if they were in Zimbabwe and enjoy the ability to remit funds and pay for goods and services using the newly launched Ecocash Home Wallet app.

Econet Group’s fintech subsidiary, Cassava Connect (formerly Chitoro), unveiled the product in London on Thursday, calling it ‘a first in the world of remittances between the UK and Zimbabwe’. Cassava is the company through which all EcoCash mobile money services are managed across Africa.

For the first time ever, Zimbabweans in the diaspora are now able to take direct control of how the money they remit to Zimbabwe is used. They can sign up for the EcoCash mobile money service via the Ecocash Home Wallet app, and link it to their UK mobile number.

The app is available for download on the Google Play Store and Apple store. Once registered, a user in the UK will be able to top up their Home Wallet through a debit or credit card or bank transfer, which will allow them to send money home and perform all other transactions available on EcoCash in Zimbabwe such as pay bills, pay merchants, or buy airtime.

Natalie Jabangwe-Morris (EcoCach CEO)

Haxton Rose, Managing Director of Cassava Remit UK, described the new service as “a response to long standing calls by the diaspora community for a transaction offering that provides speed, comfort, control, and security of funds remitted back home.”

He said the launch comes with a three month zero fees offer for top-ups to the wallet, while all in-wallet transactions remain free after topping the wallet.

Natalie Jabangwe-Morris, General Manager for EcoCash Zimbabwe, said:

“Gone are the days of having to queue at a high street shop to send money home, wait for several days for the money transfer to go through, and then having to rely on someone to handle other transactions in Zimbabwe on your behalf such as paying for school fees or any other projects back home.

“Regrettably, in such scenarios, we have heard of many instances where the money ends up being misappropriated. This is where the EcoCash Home Wallet comes in handy as the customer not only gets access to a remittance capability, but also gets direct control over how the funds will be used downstream.”

Cassava has so far excelled in developing and introducing such innovations across the markets in which it operates, which has in turn enhanced the equity of the EcoCash brand as seen at the just ended Mobile World Congress in Barcelona, Spain, where EcoCash was recognised as the Best Mobile Money Solution in the World for 2017.